SAN FRANCISCO, CA--(Marketwire - July 11, 2008) - Barclays Global Investors (BGI), a
worldwide leader in exchange-traded funds, announced today that the Board
of Directors of Barclays Global Investors International, Inc. has
authorized a 10 for 1 split of the shares of the iShares Silver Trust for
shareholders of record as of the close of business on July 21, 2008,
payable after the close of trading on July 23, 2008. The Trust shares will
begin trading on a split-adjusted basis on July 24th. Post-split shares are
expected to be distributed to shareholders' accounts on July 28, 2008, and
shareholders are expected to see the change in their holdings sometime
after July 28th, depending upon their brokerage firm's procedures.

The 10-for-1 split will lower the share price and increase the number of
outstanding shares. The total value of shares outstanding is not affected
by a split.

Shares of the iShares Silver Trust are expected to reflect, at any given
time, the price of the silver owned by the Trust, less the Trust's expenses
and liabilities. As of June 30, 2008, the Trust had $3.4 billion in total
net assets. Barclays Global Investors International, Inc., an affiliate of
Barclays Global Investors, N.A., is the Trust's sponsor.

Barclays Global Investors is one of the world's largest asset managers and
a leading global provider of investment management products and services.
It has over 2,900 institutional clients and over $2.0 trillion of assets
under management. BGI is a global product leader in exchange traded funds
(iShares) with over 320 funds for institutions and individuals globally.

Barclays Global Investors International, Inc. (BGII) is the sponsor of the
iShares Silver Trust ("Silver Trust"). Barclays Global Investors Services
(BGIS) assists in the marketing of the Silver Trust. BGII and BGIS are
affiliates of Barclays Global Investors, N.A., which is a majority-owned
subsidiary of Barclays Bank PLC.

Investing involves risk, including possible loss of principal. The iShares
Silver Trust is not an investment company registered under the Investment
Company Act of 1940 or a commodity pool for purposes of the Commodity
Exchange Act. Shares of the Silver Trust are not subject to the same
regulatory requirements as mutual funds. Because shares of the iShares
Silver Trust are expected to reflect the price of the silver held by the
Trust, the market price of the shares will be as unpredictable as the price
of silver has historically been. Additionally, shares of the Silver Trust
are bought and sold at market price (not NAV). Brokerage commissions will
reduce returns.

Shares of the Silver Trust are created to reflect, at any given time, the
market price of silver owned by the trust at that time less the trust's
expenses and liabilities. The price received upon the sale of shares of the
Silver Trust, which trade at market price, may be more or less than the
value of the silver represented by them. If an investor sells the shares at
a time when no active market for them exists, such lack of an active market
will most likely adversely affect the price received for the shares. For a
more complete discussion of risk factors relative to the Silver Trust,
carefully read the prospectus.

Following an investment in the iShares Silver Trust, several factors may
have the effect of causing a decline in the prices of silver and a
corresponding decline in the price of the shares. Among them: (i) A change
in economic conditions, such as a recession, can adversely affect the price
of silver. Silver is used in a wide range of industrial applications, and
an economic downturn could have a negative impact on its demand and,
consequently, its price and the price of the iShares. (ii) A significant
change in the attitude of speculators and investors towards silver. Should
the speculative community take a negative view towards silver, a decline in
world silver prices could occur, negatively impacting the price of the
shares. (iii) A significant increase in silver price hedging activity by
silver producers. Traditionally, silver producers have not hedged to the
same extent as other producers of precious metals (gold, for example) do.
Should there be an increase in the level of hedge activity of silver
producing companies, it could cause a decline in world silver prices,
adversely affecting the price of the shares.

The amount of silver represented by shares of the iShares Silver Trust will
decrease over the life of the trust due to sales necessary to pay the
sponsor's fee and trust expenses. Without increase in the price of silver
sufficient to compensate for that decrease, the price of the shares will
also decline, and investors will lose money on their investment. The Silver
Trust will have limited duration. The liquidation of the trust may occur at
a time when the disposition of the trust's silver will result in losses to
investors.

Although BGII believes that market makers will take advantage of
differences between the NAV and the trading price of Silver Trust shares
through arbitrage opportunities, BGII cannot guarantee that they will do
so. BGII cannot guarantee an active trading market for the shares, which
may result in losses on your investment at the time of disposition of your
shares. The value of the shares of the Silver Trust will be adversely
affected if silver owned by the trust is lost or damaged in circumstances
in which the trust is not in a position to recover the corresponding loss.
The Silver Trust is a passive investment vehicle. This means that the value
of your shares may be adversely affected by trust losses that, if the trust
had been actively managed, it might have been possible to avoid.

Shares of the iShares Silver Trust are not deposits or other obligations of
or guaranteed by Barclays Global Investors, N.A. or its affiliates ("BGI"),
and are not insured by the Federal Deposit Insurance Corporation or any
other governmental agency.

When comparing commodities and the iShares Silver Trust, it should be
remembered that management fees associated with the Trust are not borne by
investors in individual commodities. Buying and selling shares of the
iShares Silver Trust will result in brokerage commissions. Because the
expenses involved in an investment in physical silver will be dispersed
among all holders of shares of the Silver Trust, an investment in the
Silver Trust may represent a cost-efficient alternative to investments in
silver for investors not otherwise able to participate directly in the
market for physical silver.

Although shares of the iShares Silver Trust may be bought or sold on the
exchange through any brokerage account, shares are not redeemable except in
large aggregated units called Baskets.